Flexible packaging maker Sigma Plastics Group is teaming with plastic strapping firm Teufelberger Group on an acquisition that relies on both firms' expertise.
The two companies are creating a joint venture to acquire Marflex M.J. Maillis Poland from Maillis International SA, a maker of stretch film and strapping.
The Kraczew, Poland-based firm has total annual production of approximately 120 million pounds and is a Top 10 supplier in both stretch film and strapping in Europe, Sigma said.
"Sigma was very fortunate to have a like-minded partner in Teufelberger with a similar vision for Marflex. Marflex management and operations fit on the higher end of industry standards. We are very excited to welcome the Marflex operations and team to the Sigma family and growing into new geographic territories," Sigma Plastics Chief Financial Officer Andrew Teo said in a statement.
Pompano Beach, Fla.-based Sigma has six stretch film locations, including four in the Untied States, one in Canada and one in Thailand. The company has a total of 43 manufacturing sites making film, can liners and bags.
Teufelberger, which is based in Wels, Austria, actually dates to 1790 when Jakob Teufelberger started making hemp rope. The company first introduced synthetic fibers, including nylon and polyester, in 1941. The firm later introduced production of polypropylene strapping in 1977 and added PET strapping in 1997.
Maillis International, which is based in Luxembourg, make a variety of machines and tools for package handling, including wrapping, strapping and carton sealing systems. The company's portfolio includes shrink wrapping machines and plastic strapping tools.